Where would you like to sign in?

Withdrawal from ISDX

H. B. PROPERTIES PLC
WITHDRAWAL FROM ISDX
H. B. Properties Plc ("the Company") announces that a circular was sent yesterday to shareholders in
respect of the proposed withdrawal from ISDX and share capital consolidation.
In accordance with the Rule 81 of the ISDX Growth Market Rules for Issuers the Company is seeking
shareholders' approval for the proposed withdrawal of its entire share capital from trading on the ISDX
Growth Market.
A notice to convene the General Meeting of the Company to be held at the offices of Jeffreys Henry LLP,
Finsgate, 5-7 Cranwood Street, London EC1V 9EE on 17 June 2014 at 12.00 noon, has been sent to
Shareholders.
The Directors believe that having a listing on the ISDX Growth Market is currently not in the best
interests of the Company or its Shareholders as it continues its endeavours to attract additional
investment into the Company and the development of its investing strategy.
The Directors have taken the decision to implement the withdrawal process due to the lack of liquidity of
the ISDX Growth Market and the difficulty in raising funds by the issue of new Ordinary Shares to
investors.
The Directors have taken steps to have the Ordinary Shares admitted to trading on the GXG Main Quote
Market. GXG Markets is an exchange operator focusing on European small and medium sized enterprises. GXG
Markets operates in accordance with the MiFID legislation under the supervision of the Danish FSA
(Finanstilsynet).
It is also proposed that the issued share capital of the Company will be restructured, in order to reduce
the number of the Ordinary Shares on a pro rata basis. All of the existing Ordinary Shares of GBP0.00001
each will be consolidated into Ordinary Shares of GBP0.001 each on the basis of one New Ordinary Share for
every 100 Existing Ordinary Shares in issue. The effect of the consolidation is to reduce the number of
Ordinary Shares in issue and as a result the market price of the New Ordinary Shares ought to take account
of the lower volume of Ordinary Shares in issue. As the consolidation is applied on a proportionate basis,
the relative value of the holding of shares of each shareholder would not be affected.
Following the capital reorganisation the issued share capital of the Company will consist of 933,681 new
Ordinary Shares of GBP0.001 each. Following the Capital Reorganisation share certificates in respect of
Existing Ordinary Shares will no longer be valid. Share Certificates in respect of the New Ordinary Shares
will be issued following the Capital Reorganisation of, in the case of uncertificated holders, Euroclear
(UK and Ireland) Limited will be instructed to credit the CREST participant's account with New Ordinary
Shares. New Certificates in respect of the New Ordinary Shares will be dispatched to all Shareholders by
first class post at the risk of the Shareholder. No fractional payments will be made.
The Directors of the Issuer accept responsibility for this announcement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Leo Knifton
H. B. Properties PLC
Finsgate
5-7 Cranwood Street
London
EC1V 9EE
Tel: +44 (0) 20 7309 2280
Fax: +44 (0) 20 7566 0023
Nick Michaels
Alfred Henry Corporate Finance Limited
Tel: +44 (0) 20 7251 3762
16 May 2014